Brazilian currency lost the battle against the US Dollar.
Updated
This is my first analysis of the USDBRL pair. The Real has lost value in a parabolic fashion agains the American Dollar. The Dollar appear to have reached the top of the channel however the whole global scenario does not look in favor of the Brazilian currency strengthening agains the dollar, the case seems to be of maybe a top but i can't see it going really low into the channel. Unless some real extraordinary policies change in Brazil and the economy does really well, the Brazilian currency will be in a really bad shape for purchasing power into USA.
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My rationale wasn't clear, but my drawing is. I imagine in the short therm we get a pull back, but not a macro trend reversal at this point. Surely it can be a top, and in fact i'm holding Crypto USD for a while now, so i'm not longing as i write, the position has been started back in the 3,8 level last year.My point is i continue holding the Crypto USD and believe we have more upside after this pull back resumes. This is a long therm position trade.
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